Elliott Wave Analysis: GBPJPY and EURUSD 

elliott wave eurusd

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Elliott Wave Analysis: GBPJPY and EURUSD

GBPJPY is also moving higher, making a strong bullish case for itself. We see blue wave c completed near the 144.0 region, which means current three wave rally can be an indication for a change in trend. If price breaches above the previous swing high of wave iv) at 146.28, we can say that price may unfold a five wave move higher, rather than a three.


gbpjpy analysis

EURUSD can be trading within final stages of a minor wave v of v). We see current rally as sub-wave 3, that can extend even higher. Once wave 3 finds a top, a new temporary correction into blue wave 4 may come in play.

That said, a breach below the 1.1625 level would be a first sign of a change in trend and a minimum three wave reversal towards the channel line near the 1.1600 region.


elliott wave eurusd


Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.



By Gregor Horvat

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